The MoU will facilitate the seamless sharing of certain Income-tax Return (ITR) related information by the Income Tax Department to MoMSME. This data will enable MoMSME to check and classify enterprises in Micro, Small and Medium categories as per the criteria notified on 26/06/2020 of MoMSME. The MoU comes into force from the date it was signed i.e 20/07/2020. Both organizations will appoint Nodal Officer and Alternate Nodal Officers to facilitate the process of data exchange. The MoU marks the beginning of a new era of cooperation and synergy between the CBDT and MoMSME.